- column
- Top Line
Tip Your Hat to Tipsters
Please note: This item is from our archives and was published in 2007. It is provided for historical reference. The content may be out of date and links may no longer function.
Related
IRS warns taxpayers: Social media advice can lead to costly penalties
Dealing with natural disasters: How to avoid fraudulent activities
Mitigate or exacerbate fraud risk? Culture’s critical role
TOPICS
The Association of Certified Fraud Examiners found occupational frauds are more likely to be detected by tips (34% of cases) than by internal audits (20%), external audits (12%), internal controls (19%) or police alerts (4%); accidental detection uncovered fraud 25% of the time. In some of the 1,134 cases studied, companies reported more than one initial detection method.
Nearly two out of three tips came from employees, with the remaining third supplied by outside (customers and vendors) or anonymous sources.
Source: 2006 ACFE Report to the Nation on Occupational Fraud & Abuse, The Association of Certified Fraud Examiners, www.acfe.com/fraud/report.asp.
